The powerful Hollywood talent agency CAA is canceling its annual Golden Globe Awards party and planning to form a legal defense fund to assist workplace harassment victims across all industries.

A person with knowledge of the plans who spoke on the condition of anonymity because they were not authorized to speak publicly said Monday that the funds normally used for the Globes party, which would celebrate nominated clients like Meryl Streep, Reese Witherspoon, Nicole Kidman and Tom Hanks, will be instead be redirected to establish the fund.

The agency has also committed itself to establishing gender parity in its leadership by the year 2020, following the lead of ICM Partners.The Hollywood Reporter first reported the news.

The Golden Globes will be handed out Jan. 7 and will be followed by several after-parties.